South Korea indicates fugitive Do Kwon’s passport still valid; his location unknown
Kwon has been issued with an Interpol “red notice” requesting his extradition on charges brought by South Korea related to the implosion of the Terra Luna cryptocurrency project he founded
Aptos rollout faulted for slow processing speeds; native token plunges
The blockchain network was built by former members of the Meta stablecoin project, with well-known investors and considerable buzz as the new ‘Solana killer.’
‘Hacktober’ continues with US$1 mln taken from BitKeep token swap service
An unidentified hacker stole over US$1 million in Binance Coin (BNB) tokens from decentralized multi-chain wallet BitKeep’s token swap service on Monday, according to a Tuesday statement by the company. See related article: Crypto hackers on track for bonanza year as theft surges, Chainalysis says Fast facts “Our development team managed to contain the emergency […]
New IRS tax language tweaked to include NFTs
The IRS updated its annual income tax instructions in a Monday draft that does away with the taxable category “virtual currency” and replaces it with the term “digital assets,” which explicitly includes NFTs.
Ripple devs push for Ethereum smart contract compatibility with XRPL sidechain
The first XRP Ledger (XRPL) Ethereum Virtual Machine (EVM) compatible sidechain has gone live on the parallel test network, XRPL Devnet, Ripple developers announced on Monday.
One country, two systems? Hong Kong seems set to diverge from China on digital assets
Hong Kong seems set to put out a new welcome mat for the blockchain and crypto industries, but will it work after concern about regulatory restrictions convinced many cryptocurrency operators to leave?
Japan pushes for tougher crypto AML regulations amid N. Korean cyberattacks
The Japanese government approved amendments to existing financial regulations to prevent money laundering utilizing cryptocurrencies and increase penalties on those involved, according to local media reports. See related article: North Korea’s Lazarus Group attacks Japanese crypto firms, police say Fast facts The Cabinet, Japan’s executive body, approved the revisions to laws associated with the country’s […]
The scourge of NFT wash trading — and how not to get suckered in
What are the different kinds of NFT wash trading, and what are the red flags that a prospective investor should look for? Anndy Lian explains.
Mastercard to let banks offer crypto services to clients
Global payments company Mastercard intends to enable financial institutions to offer crypto services to customers with its new Crypto Source program. See related article: Binance partners Mastercard to launch card in Argentina for bill payment, everyday purchases Fast facts The program will allow financial institutions to tap into Mastercard’s partners to buy, hold and sell […]
India’s headache, or opportunity?
India’s crypto sector has been having a tough time – we’re taking a look on what has been happening lately.
Magic Eden, largest Solana-based NFT platform, makes royalty fees optional
The platform said the move was in line with growing market trends, but some are concerned about what it means for the industry.
Macau is betting on digital currency, CBDC as legal tender
The city of Macau, a special administrative region of China and home to a thriving casino industry, is seeking to grant digital currency status as legal tender, the Executive Council of Macau announced on Friday. See related article: Macao needs China’s heft in tech to introduce CBDC, official says Fast facts See related article: Macao […]
Markets: Bitcoin, Ether rise along with all top 10 crypto as inflation sell-off turns bullish
Bitcoin rose in Friday evening trading in Asia to jump past its US$19,000 support line, with Ether and all other top 10 cryptocurrencies by market capitalization gaining, led by XRP. See related article: Ethereum price undervalued since The Merge: report Fast facts Bitcoin gained 3.33% in the past 24 hours to trade at US$19,647 at […]
Crypto hackers on track for bonanza year as theft surges, Chainalysis says
Decentralized finance sites are the preferred choice of hackers as crypto heists look to be on course to hit a record high this year.
South Korea seeks software to track US$7.2B in illegal crypto
South Korea’s Supreme Prosecutors’ Office is looking to hunt down illegal crypto funds by purchasing a software program that tracks down crypto transactions and sources, a local media outlet reported Friday. See related article: DPRK hackers sneak US$52 mln in crypto into S.Korean exchanges: Chainalysis Fast facts The tracking program is expected to be used […]
The evidence is in: Chinese courts use judicial blockchain platform to store data
China’s judicial blockchain platform has stored more than 2.6 billion pieces of evidence, a Supreme People’s Court spokesman said at a press conference on Thursday, according to a report by the local media Legal Daily. See related article: China has seen blockchain’s future and it doesn’t include cryptocurrencies Fast facts See related article: How blockchain […]
Tether says it slashed all commercial paper, replaced with US Treasury bills
Tether, issuer of the world’s largest stablecoin, said in a blog post it has cut its commercial paper holdings to zero and replaced them with U.S. Treasury bills. See related article: Are stablecoins like Tether ready for regulatory scrutiny? Fast facts See related article: SEC fines former Tether auditor over accounting malpractice
US Regulation Delays
There’s a power struggle over who regulates crypto in the US – and it could all depend on how the midterm elections go this year.
Markets: Bitcoin holds $19,000 (just); Cardano, XRP lead losses among top 10 crypto
Bitcoin dipped but just held the US$19,000 support line in Thursday evening trading in Asia. Excluding stablecoins, all other cryptocurrencies on the top 10 list by market capitalization fell. Cardano led the declines. See related articles: Judge grants amicus requests to support Ripple in lawsuit with SEC Fast facts Bitcoin fell 0.52% in the past […]
India’s crypto taxes provide headache for many, opportunity for some
One company says it’s bringing solutions for confused investors in digital assets in India who grapple with hours of tax calculations.
Tianjin boosts electricity rates to further punish underground crypto mining
Tianjin is the latest Chinese city to announce higher differential electricity rates in an effort to further discourage energy-intensive cryptocurrency mining, which the country banned in September 2021 but continues to exist in some pockets. See related article: Beijing banned crypto mining, so China miners went underground Fast facts See related article: China takes aim […]
Coin Center files lawsuit over Tornado Cash sanctions, defends crypto privacy rights
Coin Center, a non-profit think tank on cryptocurrencies and public policy, announced Wednesday it was filing a lawsuit against the U.S. Treasury Department’s Office of Foreign Asset Control (OFAC), alleging the agency overreached its authority when it sanctioned cryptocurrency mixer Tornado Cash in August. See related article: What is the future for cryptocurrency mixers after […]
Is crypto suffering from the same ills as TradFi?
Centralized lenders like Celsius and Voyager have proven hugely problematic, but DeFi also has big issues. What if we pursue a hybrid approach?
Markets: Bitcoin, Ether prices rise; BNB little changed following BSC hard fork
Bitcoin gained in Thursday morning trading in Asia, with the world’s largest cryptocurrency holding above support at US$19,000. Ether, second on the list of top 10 cryptocurrencies by market capitalization, excluding stablecoins, also gained. Other coins on the top 10 moving higher included Solana, XRP and Tron. Cardano fell. See related article: Binance to hard […]
Blockchain.com granted in-principle approval for Singapore license
Cryptocurrency exchange Blockchain.com has received in-principle approval from the Monetary Authority of Singapore (MAS) for a license to offer “digital payment token” services in the city-state. See related article: Singapore’s MAS says needs to do better job explaining crypto policy Fast facts Blockchain.com is the second crypto exchange to earn the central bank’s in-principle approval […]
What’s next for Binance after $100 million BNB hack?
Top blockchain and crypto news: Binance puts brakes on BNB Chain theft. Will quantum computing kill crypto? Huobi sells up.
Markets: Bitcoin, Ether inch up; XRP rebounds following positive lawsuit ruling
Bitcoin inched up today to remain above the US$19,000 support line amid mixed results among the top 10 cryptocurrencies by market capitalization, excluding stablecoins, led in gains by Tron. XRP rebounded from losses yesterday. See related articles: Binance to hard fork BNB Smart Chain amid heated debate around decentralization Fast facts Bitcoin gained 0.17% in […]
DPRK hackers sneak US$52 mln in crypto into S.Korean exchanges: Chainalysis
South Korean media has reported that local crypto exchanges may become a “playground” for North Korean hackers.
Binance to hard fork BNB Smart Chain amid heated debate around decentralization
The crypto world has been watching how one of the world’s largest blockchains responds to a hack last week and the questions it raises about the state of decentralization in the industry.
Solana-hosted DeFi platform Mango exploited for over US$100 mln
Mango Markets, a decentralized platform hosted on the Solana blockchain, was exploited for over US$100 million. See related article: What is the Solana ecosystem and how is it fueling SOL’s stratospheric rise? Fast facts Mango’s token MNGO was severely impacted, dropping 42.9% in the past 24 hours to US$0.023 as of 11:15 a.m. in Hong […]
BSC to hard fork on Wednesday after US$100 mln exploit
BNB Smart Chain (BSC), the blockchain network launched by the world’s largest cryptocurrency exchange Binance, will perform a hard fork and upgrade on Wednesday as a fix following an Oct. 6 vulnerability, according to an announcement on Tuesday. See related article: BNB Chain back online after around $100 mln lost in possible exploit Fast facts […]
What is the future for cryptocurrency mixers after U.S. sanctions on Tornado Cash?
Tornado Cash, the Ethereum coin mixer slapped with sanctions by the U.S. Treasury back in August, has returned to the software hosting website GitHub amid a flurry of lawsuits against the Treasury for its action.
BNY Mellon, largest custodian bank, starts Bitcoin, Ether custody services
Bank of New York Mellon Corp., a 238-year-old bank based in the U.S., is now allowing select U.S. clients to hold and transfer Bitcoin and Ether, the bank announced in a press release on Tuesday. See related article: Crypto self-custody is no longer a choice. It’s an imperative. Fast facts BNY Mellon will store private […]
European Parliament agrees on preliminary crypto regulation
The European Parliament passed a preliminary legal framework for the crypto space on Monday that aims to increase standards and requirements for digital asset companies, ahead of a final vote expected soon. See related article: Europe cancels AML amendment that would have forced identity verification for non-custodial wallets: report Fast facts EU lawmakers voted heavily […]
Markets: Bitcoin price dips below US$19,000 before climbing back, XRP leads crypto losers
Bitcoin briefly fell below US$19,000 in trading in Asia on Tuesday for the first time this month amid losses across the top 10 cryptocurrencies by market capitalization, excluding stablecoins. XRP led the losers. See related articles: Two firms seek to weigh in on XRP lawsuit between SEC, Ripple Fast facts Bitcoin fell 1.73% in the […]
Justin Sun, SBF again deny involvement in Huobi Global sale
The founder of blockchain network Tron, Justin Sun, and crypto exchange FTX founder Sam Bankman-Fried each denied for a second time that they have participated in purchasing a majority stake in Huobi Global, after crypto media outlet Wu Blockchain said on Monday that Sun was actually the Chinese crypto exchange’s behind-the-scenes purchaser, with Bankman-Fried was […]
Bitcoin mining difficulty hits new high after Ethereum ‘Merge’ makes space
Bitcoin mining difficulty climbed to a record high on Monday, a large part of which is attributed to Ethereum’s “Merge” upgrade freeing up more room for Bitcoin miners, according to Bloomberg. See related article: Brazil police bust crypto group led by ‘Bitcoin Sheikh’ Fast facts Bitcoin mining difficulty, a measure of the amount of work […]
Why appchains are critical to Web3’s future
What’s wrong with ‘fat protocols’ like Ethereum and Solana, and why should there be alternatives for the little guys? Yaoqi Jia of AltLayer explains.
Markets: Bitcoin price slides, Ether drops with rest of crypto top 10, XRP leads losses
Bitcoin and Ether fell along with all other top ten cryptocurrencies by market capitalization in Tuesday morning trading in Asia, with the world’s largest cryptocurrency barely holding at the support line of US$19,000, a mark it has fluctuated around for much of the past month. See related article: Markets: Bitcoin rises but remains below US$20,000; […]
Singapore eyes blockchain-based payment systems for faster cross-border transactions
The Monetary Authority of Singapore is exploring blockchain-based payments solution to solve the challenges in cross-border transactions. See related article: Singapore warms up to crypto industry — on its own terms Fast facts The current state of cross-border payments “is slow, costly, opaque, and inefficient, relying on an archaic network of correspondent banks,” Ravi Menon, […]
Markets: Bitcoin, Ether little changed; XRP rises; Hong Kong’s Hang Seng Index drops amid U.S. regulation changes
The top 10 cryptocurrencies by market capitalization saw little change on the day, with XRP leading gains with a 1.65% rise. See related articles: Markets: Bitcoin rises but remains below US$20,000; Ether gains, XRP leads crypto top 10 Fast facts Bitcoin slipped 0.02% in the past 24 hours to trade at US$19,416 at 4 p.m. […]
A bear market may be painful, but it’s good for DAOs
When times are tough, a DAO must trim fat and focus on providing a better product or service to its community, writes Redmption of Harvest Finance.
Markets: Bitcoin rises but remains below US$20,000; Ether gains, XRP leads crypto top 10
Bitcoin has gained slightly but was still trading below US$20,000 on Monday morning in Asia, having fallen below that support line late last week after fluctuating around that level for most of the past month. Ether and the rest of the crypto top 10 by market capitalization also rose slightly, with XRP seeing by far […]
Want the next-generation internet? Start legislating for it
Web3 communities need to join forces with policymakers to draft rules for the next iteration of the online world, says Haun Ventures’ Tomicah Tillemann
Malaysia to get its own national public blockchain
MY E.G. Services Berhad (MYEG) and Mimos Technology Solutions Sdn Bhd (MTSSB) signed a memorandum of understanding (MOU) on Thursday to co-develop and operate Malaysia’s national blockchain infrastructure to onboard the nation’s private and public sectors to Web 3.0. See related article: Huobi Global talking to Malaysian regulator about being put on investor alert list […]
Game Space to launch a dozen games by mid 2023, says investor Livio Weng
The former CEO of Huobi Global has jumped into the GameFi space.
S.Korea’s parliament audit on Terra-LUNA falls short of expectations
The National Assembly wanted to get to the bottom of the Terra-LUNA collapse on Thursday. At the end of a long and speech-filled day, lawmakers left empty-handed.
BNB Chain back online after around $100 mln lost in possible exploit
Binance’s BNB Chain has come back online after being suspended earlier in the morning when an exploit was identified, the blockchain announced on Twitter on Friday afternoon in Asia. See related article: Binance suspends BNB blockchain on potential exploit; Peckshield reports US$572 mln hack Fast facts Changpeng Zhao, cofounder and chief executive officer of Binance, […]
Apparel, luxury goods industry has most brands launching NFTs
The apparel and luxury goods industry is leading in tradable non-fungible token (NFT) adoption, with major brands launching their own NFT collections, according to a new research study by CoinGecko. See related article: Apes still rule among the bears: NFT market falls for fifth straight month Fast facts The independent cryptocurrency aggregator found the apparel […]
Arrested Terra employee, Do Kwon associate, released from custody amid S. Korea Terra-LUNA probe
Yoo (full name was not revealed), the head of general affairs at Terraform Labs Pte. Ltd. and close associate of unlocated chief executive officer (CEO) Kwon Do-hyung, or Do Kwon, has been released from custody since being arrested Thursday as part of an ongoing investigation into Terra-LUNA. Yoo is not contending his alleged association with […]
Middle East & North Africa lead crypto adoption driven by inflation, remittance payments: Chainalysis
Emerging markets dominated the 2022 Global Crypto Adoption Index, with Latin America second in transaction volume growth.
Binance suspends BNB blockchain on potential exploit; Peckshield reports US$572 mln hack
The BNB Chain — the blockchain operated by the world’s largest crypto exchange, Binance Global Inc. — has suspended operation as developers have identified a potential exploit on the network, according to an official Binance Twitter account. See related article: Chainalysis says $2 bln stolen in cross-chain bridge hacks this year, more expected Fast facts […]
Markets: Bitcoin dips; BNB drops on chain glitch; Ether, XRP little changed
Bitcoin dipped under the US$20,000 support line in Friday morning trading in Asia, a price it has repeatedly fluctuated around for several weeks. Ether, the second largest token by market capitalization, was little changed and up about 2% on the week. Most other coins in CoinMarketCap’s top 10 by market capitalization were flat to lower. […]
Binance gets nod to operate in Kazakhstan
Binance has obtained a “permanent license” to operate a digital asset platform and provide custody services at Kazakhstan’s Astana International Financial Center, the world’s largest cryptocurrency exchange announced in a blog post on Thursday. See related article: Binance targets expansion in Philippines, Turkey, executive says Fast facts The license gives Binance the status of a […]
Binance targets expansion in Philippines, Turkey, executive says
The world’s largest crypto exchange’s regional head of Asia says the Philippines’ GameFi community and rampant inflation in Turkey present opportunities for Binance.
South Korea’s Dunamu CEO blames weak regulation for Terra-LUNA aftermath
Widespread damage from the Terra-LUNA collapse can be attributed to a poor local regulatory framework, said Lee Sir-goo, CEO of South Korea’s blockchain and fintech company Dunamu Inc. at a special session of the National Assembly. See related article: S.Korea gov’t failed, special prosecutor needed on Terra-LUNA, lawmaker says Fast facts Lee appeared before lawmakers […]
Markets: Bitcoin, Ether prices rise; XRP leads widespread gains among top 10 crypto
Bitcoin gained in Thursday evening trading in Asia and remained above US$20,000. Ether values fluctuated in the day but eventually rallied. Of the top 10 cryptocurrencies by market capitalization, XRP led gains while stablecoins Tether and Binance USD declined on the day. See related articles: Markets: Bitcoin dips but holds above US$20,000, Ether falls, XRP […]
Software firm Spexi raises US$5.5 mln to develop Flow blockchain-based drone imagery platform
Software company Spexi has raised US$5.5 million in seed funding to create Spexigon, the world’s first crypto-powered fly-to-earn drone imagery platform based on the Flow blockchain, according to a press release on Tuesday. See related article: X-to-Earn: Eat, sleep, do almost anything for pay in crypto Fast facts See related article: Run-to-earn protocol Stepn announces […]
Terra’s network validator DSRV Labs CEO denies prior knowledge of Terra-LUNA collapse
Validators of Terra blockchain had no knowledge of the US$60 billion collapse of Terra-LUNA prior to the crash, said South Korean blockchain infrastructure provider DSRV Labs chief Kim Ji-yun. in response to the National Assembly’s parliamentary audit on the Financial Services Commission on Thursday. See related article: Terra CEO Do Kwon to lose his passport […]
Transit Swap hacker mulls return of more funds
A hacker in the Transit Swap recent hack will consider returning more funds after Transit Swap completes the first phase of user returns, according to a message transmitted on blockchain from one of the hacker’s addresses on Thursday. See related article: Hacker returned 70% of stolen US$23M in funds: Transit Swap Fast facts See related […]
Singapore’s central bank says illegal crypto operations will be hunted down
The Monetary Authority of Singapore (MAS) said illegal crypto-related businesses are operating in the city state and it is working with the police to identify and prosecute them. See related article: Singapore’s MAS says needs to do better job explaining crypto policy Fast facts In a reply to a Parliamentary question, Tharman Shanmugaratnam, senior minister […]
Aussie laundered stolen retirement funds via Hong Kong using crypto, diamonds
A woman in Melbourne, Australia pleaded guilty on Wednesday to her role in stealing millions of dollars from superannuation (retirement) funds and stock portfolios before laundering the proceeds via Hong Kong through the purchase of cryptocurrency and diamonds, as reported by The Age newspaper. See related article: Australian superannuation and institutions await clarity to invest […]
South Korea makes first arrest in Terra-LUNA investigation
South Korean prosecutors have arrested a Terraform Labs employee, in their first arrest under the investigation of the Terra-LUNA collapse. A bench warrant, which allows law enforcement to take suspects into custody, was issued on Wednesday for the arrested employee. See related article: Terra CEO Do Kwon to lose his passport within a month Fast […]
Ripple Labs joins blockchain carbon credit partnership
Ripple Labs Inc., the firm whose payment network is powered by the self-described carbon-neutral cryptocurrency token XRP, has partnered with Web3 climate startup Thallo and various other companies to build a carbon credit market on the blockchain. See related article: SEC opposes motions from two firms seeking to back Ripple in XRP lawsuit Fast facts […]
S.Korea financial regulator restates support for blockchain, crypto protections
Kim Joo-hyun, the chairman of South Korea’s top financial regulator, the Financial Services Commission (FSC), said on Thursday the agency will promote blockchain technology and user protections in the crypto market. See related article: South Korea’s all-encompassing crypto law is coming — what we know so far Fast facts “In cooperation with the National Assembly, […]
Is that bottle of ‘Grand Cru’ for real? An NFT can nose out the truth
The tradition-bound wine world is not always open to change, writes Sebastian Schier of vinID. But new technology can solve the age-old problem of wine fraud.
Joining The Sandbox metaverse: All the Cool Cats are doing it
Cool Cats Group LLC, the Web3 company behind the cartoon feline-based NFT collection Cool Cats, announced Thursday that it had received a strategic investment and partnership from Animoca Brands, owner of the metaverse platform The Sandbox. See related article: Asus launches NFT platform to plug into Web 3.0 Fast facts In a tweet, Cool Cats’ […]
Terra CEO Do Kwon to lose his passport within a month
South Korea’s Ministry of Foreign Affairs posted a notice on its website on Wednesday saying the passport belonging to Terraform Labs Pte. Ltd. chief Kwon Do-Hyung, also known as Do Kwon, will be nullified in four weeks if Kwon does not return his passport. See related article: South Korea’s investigation of Do Kwon ‘unfair’: Terraform […]
Markets: Bitcoin dips but holds above US$20,000, Ether falls, XRP only gainer in top 10
Bitcoin fell in Thursday morning trading in Asia but held above the US$20,000 support line. Ether also lost ground. XRP was the only token in the cryptocurrency top 10 by market capitalization to gain. See related article: Is crypto money? A South Korean court says no Fast facts Bitcoin fell 0.9% in the past 24 […]
CBDCs, tokens can integrate to existing payments systems, SWIFT claims
The Society for Worldwide Interbank Financial Telecommunication (SWIFT) said it had a breakthrough in enabling assets on distributed ledger technology networks, such as central bank digital currencies (CBDC) and tokens on the blockchain, to interact and flow with the existing financial infrastructure. See related article: SWIFT, Chainlink announce cross-chain interoperability partnership Fast facts In one […]
Tornado Cash Debate – The Role of Law
Forkast Editor in Chief Angie Law spoke with some of the industry experts to talk about the implications of the Tornado Cash sanctions.
Temperatures rise over alleged Celsius withdrawals ahead of bankruptcy
Top blockchain and crypto news: Celsius founder in hot water. European bank woes cast crypto shadow. Will BSN’s Chinese roots thwart its global ambitions?